Pricing is another important function of marketing. The successful functioning of the business depends on the price policy followed by it. The management must devote much time to fix the price for the product. The management should fix the prices in such a way that customer are willing to buy. The price can be fixed keeping in view cost of production, reasonable profit, cost of distribution, demand, living standard of buyers, discounts, etc. The price of goods of daily use should be normal. The process of fashionable goods may high.
Selling is the most important function of the marketing. The ultimate aim of every business is to earn profit. In order to achieve this aim, selling plays an important role. Selling includes creating, demand, finding, buyer and keeping them, supplying satisfactory goods and services, negotiating price and other terms of sale.
The importance of selling has increased with an increase in the number of articles offered for sale by a large number of producers.
In the present economic system, selling involves the production of right products, which satisfy the needs of customers and the supply of right quantity, at the right time and at the right price. In addition, the seller in order to sell the products has to inform the buyer through advertisements. Selling also needs products planning and development, demand creation, determination of market and selecting channel of distribution.